I HAVE COME TO KNOW THAT THERE IS SOME AMENDMENT IN THE THE EMPLOYEE PENSION SCHEME,1995. CAN ANYONE TELL WHAT ARE THESE AMENDMENTS ? REGDS, VIKRAM SINGH
From India, Delhi
108From India, Delhi
As required,please find enclosed herewith the copy of GR for ammendment of B D in EPS 1995.I hope everybady can upadate this information. H.K.Bhosale
Dear All, Please find the copy of the latest amendment in the Pension Scheme attached herewith.........
From India, Delhi
From India, Delhi
my father has taken retirement on 31/12/2003, and his pension is starting from 1/7/2008 , first pension came on 8/8/2008, will u plz tell me which factor table will be used for calculating his pension... should i use old table B or the new amended table B...as his current pension is less as per my computation... i want to file an application for the revision plz tell me which table to use
From India, Patiala
From India, Patiala
Dear Pramod Redhu,
For pension calculation, the following details are required:
1. Date of Birth
2. Date of Joining in EPF
3. Break in service before 16.11.95
4. Break in service after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of Exit
From the available details, I have reached the following conclusions:
1. Your service before 16.11.95 is 17 years.
2. Service after 16.11.95 is 1 year.
As you are below 48 years of age on 16.11.95, you are entitled to the minimum pension as follows:
- If your salary on 16.11.95 is below 2500/-:
- Past Service Benefit - 120 x 4.844 = 581
- Pensionable Service Benefit - 635
- Total = 1216/- (Subject to a minimum of 800/-) for 24 years of service.
- For 18 years - 1216 x 18 / 24 = 912 (Subject to a minimum of 450/-)
- If the salary on 16.11.95 is 2500/- or above:
- Past Service Benefit - 135 x 4.844 = 654
- Pensionable Service Benefit - 635
- Total = 1289 for 24 years
- For 18 years = 967
Either you will receive 912 (if below 2500/- on 16.11.95) or 967 (if 2500/- & above on 16.11.95) upon reaching 58 years of age.
Individuals not in service with PF applicability can avail pension starting from the age of 50 years onwards. However, for each year they will face a 4% deduction. For instance, if you choose to opt for a pension at 51 years, the multiplying factor on pension will be 0.96 to the power of 7 = 0.885.
Therefore, the reduced pension at 51 years will be 807 (for below 2500/- on 16.11.95) or 856 (for 2500/- & above on 16.11.95).
Abbas.P.S, ITI Ltd, Palakkad - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
For pension calculation, the following details are required:
1. Date of Birth
2. Date of Joining in EPF
3. Break in service before 16.11.95
4. Break in service after 16.11.95
5. Salary on 16.11.95
6. Salary at the time of Exit
From the available details, I have reached the following conclusions:
1. Your service before 16.11.95 is 17 years.
2. Service after 16.11.95 is 1 year.
As you are below 48 years of age on 16.11.95, you are entitled to the minimum pension as follows:
- If your salary on 16.11.95 is below 2500/-:
- Past Service Benefit - 120 x 4.844 = 581
- Pensionable Service Benefit - 635
- Total = 1216/- (Subject to a minimum of 800/-) for 24 years of service.
- For 18 years - 1216 x 18 / 24 = 912 (Subject to a minimum of 450/-)
- If the salary on 16.11.95 is 2500/- or above:
- Past Service Benefit - 135 x 4.844 = 654
- Pensionable Service Benefit - 635
- Total = 1289 for 24 years
- For 18 years = 967
Either you will receive 912 (if below 2500/- on 16.11.95) or 967 (if 2500/- & above on 16.11.95) upon reaching 58 years of age.
Individuals not in service with PF applicability can avail pension starting from the age of 50 years onwards. However, for each year they will face a 4% deduction. For instance, if you choose to opt for a pension at 51 years, the multiplying factor on pension will be 0.96 to the power of 7 = 0.885.
Therefore, the reduced pension at 51 years will be 807 (for below 2500/- on 16.11.95) or 856 (for 2500/- & above on 16.11.95).
Abbas.P.S, ITI Ltd, Palakkad - 678 623.
Ph. +91 9447 467 667
From India, Bangalore
Dear Abbas,
I am providing my details below. What amount should I get as a pension?
1. Date of Birth: 06-08-1951
2. Date of Join in EPF: 01-12-1974
3. Break in service before 16.11.95: NIL
4. Break in service after 16.11.95: NIL
5. Salary on 16.11.95 > 5000
6. Salary at the time of Exit > 50000.
By entering the above details in the Excel sheet you have provided, I should get Rs. 1780/- as a pension. However, I have received the P.P.O., and in that, the amount of the pension is Rs. 1687/-. Kindly advise me.
G R BAVARVA
From India, Ahmadabad
I am providing my details below. What amount should I get as a pension?
1. Date of Birth: 06-08-1951
2. Date of Join in EPF: 01-12-1974
3. Break in service before 16.11.95: NIL
4. Break in service after 16.11.95: NIL
5. Salary on 16.11.95 > 5000
6. Salary at the time of Exit > 50000.
By entering the above details in the Excel sheet you have provided, I should get Rs. 1780/- as a pension. However, I have received the P.P.O., and in that, the amount of the pension is Rs. 1687/-. Kindly advise me.
G R BAVARVA
From India, Ahmadabad
Dear Bavara,
Two more details I want.
1) Date of Exit from Service
2) Date of Pension availed
Note: If you have continued in service till the completion of 58 years and availed pension thereafter, you may contact the Office of the Regional PF Commissioner and inform me of their response.
Abbas
From India, Bangalore
Two more details I want.
1) Date of Exit from Service
2) Date of Pension availed
Note: If you have continued in service till the completion of 58 years and availed pension thereafter, you may contact the Office of the Regional PF Commissioner and inform me of their response.
Abbas
From India, Bangalore
Dear Abbas,
Below are the details that I forgot to submit, sorry.
1) Date of Exit from Service: I am still in service up to 31-08-2011.
2) Date of Pension Availed: My pension started from 06-08-2009 and was paid with arrears in March/April 2010 into my bank account. I had submitted an application at the Pension Office in Surat, but to date, I have not received any response from them.
Regards,
G R BAVARVA
From India, Ahmadabad
Below are the details that I forgot to submit, sorry.
1) Date of Exit from Service: I am still in service up to 31-08-2011.
2) Date of Pension Availed: My pension started from 06-08-2009 and was paid with arrears in March/April 2010 into my bank account. I had submitted an application at the Pension Office in Surat, but to date, I have not received any response from them.
Regards,
G R BAVARVA
From India, Ahmadabad
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